Morgan Stanley (MS) capped off third quarter earnings season for major banks, topping estimates and driving dealmaking fees higher by 56% to $1.4 billion. This earnings cycle has noted a rebound in dealmaking activity from top investment banks, particularly in Morgan Stanley’s bond underwriting and M&A advisory units.”The dealmaking pipeline that’s been announced over the last quarter’s earnings release is a great sign for all of the sectors. But in particular for banking, you have a lot of pent-up demand for deals, as we saw a dearth of transactions in 2023,” PwC US banking & capital markets deals leader Dan…
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BLADEN COUNTY, N.C. (WECT) – Bladen County says that it has been barred from investing into the Elizabethtown Industrial Park by the town after plans for a development significantly changed.A three-page press release was released on Wednesday, Oct. 16.The county says that community leaders created the nonprofit Bladen’s Bloomin’ Agri-Industrial (BBAI), Inc. back in 2002 to support business development and create jobs. A total of 29 projects have been completed since then, and two more projects are under construction. The Cape Fear Valley Medical Facility is well on its way to completion, and the county says these are in addition…
The S&P 500 looks like it’s in another “mania,” according to a Stifel analysis of the last 139 years of market history. Adobe Firefly, Tyler Le/BIThe S&P 500 could lose a quarter of its value next year, according to Stifel.The benchmark index looks like it’s caught in a “mania,” the firm’s strategists said in a note.Investors could be impacted long-term, as manias tend to lead to poor returns in the next decade.The S&P 500 looks like it’s in the midst of another “mania,” and investors could see a steep drop in the benchmark index sometime next year, according to Stifel.Strategists…
SYDNEY (Reuters) – Australian employment again surprised on the upside in September, while the jobless rate held steady, reinforcing the view that the labour market remains tight and rate cuts could be some time off. The Australian dollar rose 0.4% to $0.6691, rebounding from a one-month low, while three-year bond futures fell 6 ticks to 96.21. Markets pared the chance for a first interest rate cut in December to 30% from 46% before the data. Figures from the Australian Bureau of Statistics on Thursday showed net employment surged 64,100 in September from August, when they rose a downwardly revised 42,600.…
By Rae Wee SINGAPORE (Reuters) – The dollar held near an 11-week high on Thursday as uncertainty over the upcoming U.S. election looms and as resilience in the U.S. economy added to bets the Federal Reserve will be less aggressive in easing rates versus its peers elsewhere. The highlight of the Asia day will be a press conference in China at 0200 GMT focused on measures to prop up its beleaguered property sector, which will be key in getting the economy back on steadier footing and determining whether the rally in Chinese markets can continue. Ahead of the press conference,…
SUNNYVALE, CA— Fortinet , Inc. (NASDAQ:) President and CEO Ken Xie has reported significant stock transactions, according to a recent SEC filing. Over the course of two days, Xie executed a series of stock sales and option exercises. On October 15 and 16, Xie sold a total of 46,609 shares of Fortinet common stock, with sale prices ranging from $81.8904 to $82.6344 per share. The total value of these transactions amounted to approximately $3.8 million. In addition to the sales, Xie exercised options to acquire 83,333 shares at a price of $9.812 per share, totaling $817,663. Following these transactions, Xie…
TOKYO (Reuters) – Japan’s ruling party may lose its sole majority in the lower house for the first time in 15 years, the newspaper said on Thursday, citing its poll ahead of the Oct. 27 election. The Liberal Democratic Party may not reach the 233 seats it needs for an outright majority in the 465 seat chamber, Nikkei said, based on polling estimates for directly elected candidates and those chosen by proportional representation. It would be the first time the LDP did not have sole control of the lower house since 2009. It could still form a coalition government with…
SUNNYVALE, Calif.—Ceribell, Inc. (NASDAQ:CBLL) director Juliet Tammenoms Bakker recently made a notable acquisition of the company’s common stock. According to a recent SEC filing, Bakker purchased 237,234 shares on October 15, 2024, at a price of $17 per share, amounting to a total transaction value of approximately $4.03 million. The transaction was conducted indirectly through Longitude Venture Partners IV, L.P., a firm where Bakker holds a significant role. Following this purchase, Bakker’s total indirect ownership in Ceribell stands at 2,475,110 shares. This purchase comes shortly after an automatic conversion of 2,140,600 shares of Series C-1 Preferred Stock into common stock,…
iStock; Rebecca Zisser/BIA contrarian sell signal recently flashed in the stock market, according to Bank of America.The drop below 4% in cash allocations suggests aggressive stock market investing, BofA said.Investors are growing more optimistic about economic growth, but fear geopolitical conflicts and inflation.A sell signal in the stock market just flashed for the first time since February 2021, according to a note from Bank of America.The bank’s fund manager survey revealed that cash allocations dropped to 3.9% from 4.2%, representing the lowest level since February 2021.According to the bank, a drop below the 4% level for cash allocations is a…
A version of this article originally appeared on the Research Affiliates website. The current economic environment is a confusing one. Job growth is strong, yet reports of layoffs at high-profile companies are ubiquitous. The yield curve is inverted, implying an imminent recession, but the stock market is at or near record highs. What can we make of these contradictory signals? Can the economy achieve the hoped-for soft landing of slower economic growth or a mild recession? Or is a hard landing and a regular or even severe recession inevitable? Provided the US Federal Reserve awakens from its slumber and certain…